Orrick Advises Stripe on $6.5 Billion Series I Financing

1 minute read | March.15.2023

Orrick advised payment processing company Stripe, which builds economic infrastructure for the internet, on a $6.5 billion Series I financing round. The primary investors include existing Stripe shareholders Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital, as well as new investors including GIC, Goldman Sachs Asset and Wealth Management, and Temasek.

The funds raised will be used to provide liquidity to current and former employees and address employee withholding tax obligations related to equity awards, resulting in the retirement of Stripe shares that will offset the issuance of new shares to Series I investors. Stripe does not need this capital to run its business.

Orrick has been advising Stripe since its inception. The Orrick team advising Stripe on the Series I financing was led by partners John Bautista and John Harrison.